Real Estate Prices in Northern Idaho (Lewiston, Moscow: for sale, amusement park, mortgage)

[GhostInTheShell]

I've been considering leaving North Carolina for several years now and am almost in a position to do so. (It's simply too warm and crowded here!) Having researched my options, I've concluded that there are only a few places in the US that really appeal to me--one of which is northern Idaho. (I'm also considering northern Vermont, Alaskan interior, parts of Montana, and maybe even rural Maine.) The one thing I can't get past--and am perpetually horrified by--is the cost of real estate outside of the southeast. How on earth do you guys afford it? It surprises me that a rural / semi-rural region like northern Idaho is so expensive. Can the average household really afford an 'average' home there? Unless the average household income has risen as dramatically as the real estate (not likely), families are probably averaging less than $40k-$50/year. I'm impressed by any young family (late 20's/30's) with children living on less than $40k/year that manages to save the $50K (plus closing costs) down payment needed to make the monthly mortgage payment for a $250,000+ home more 'reasonable'. It just doesn't seem likely unless they're either not saving for retirement (and are incredibly frugal) or have been given a lot of help along the way. So my question is this, how are you doing it? How does your average family afford these homes if actually following the 60/40 rule? To whom are you marketing these homes? Outsiders?

By the way, from all the pictures I've seen and everything I've read, northern Idaho seems beautiful. I hope to visit there soon.

[Idaho]

Welcome to the wild, wild west! The little guy is getting squeezed out of North Idaho, too.
Real estate prices are being pushed up by the influx of Californian's who see these prices as "reasonable"
compared to what they might pay for same in CA. The average family is fast becoming the 'dinosaur' of North Idaho too,
as far as I can tell. If someone has some magic fairy dust to sprinkle and share with all us "regular joe's" - that'd be great!

And YES it is GORGEOUS in North Idaho! That's giving folks another great excuse to bump up real estate prices.

removed

[cda]

I disaggree with the last post. The little guy is not being squeezed out. Its no different here then just about any nice place in the U.S., prices have gone up everywhere. You can still buy a brand new home here for well under 200K.

I just sold a nice 1700+ sq ft home on .29 acre lot in a nice Neighborhood for 195K. The buyers were a young couple, first time home buyers with 10% down. By the way it was a lot nicer then my first home thats for sure.

[buffalo head]

The housing prices have shot up so fast over the last few years here that there is no way a relatively rural and low paying area like N. Idaho could keep up. Many of us are not making much more money than we were when houses were half what they are now.

So I understand what poster Idaho is saying. It is frustrating to Idaho natives to have to pay, for example, $250,000 (the average house price, give or take) for a house that just four or five years ago, was half that. And it is, at least in very large part, due to the recent mass influx of people into the area and a large percentage of them are from the state of California, like it or not. As part of my job I get to see where people are moving in from and FAR, FAR more than any other place, they're coming from CA. That's not an insult, it's just the way it is.

Personally, I have no problem with people doing what ever they want but I would like to mention to any Californians thinking of moving--there are 48 other perfectly good states out there! Just a thought....

[Coldspring]

Come to the Ozarks, our land values haven't went up too much yet. The mountains aren't thay big and the spaces aren't so vast, but there are some pretty rural areas. I seen an add the other day for 40 acres of forest with a year-round creek and a spring for $24,000. I don't think it gets any cheaper than that in the states anymore.

[mejaka]

Yes, the higher-end homes are often going to outsiders from areas where the sale of one's home gives one good leverage for buying here.

There are plenty of moderately-priced homes, as the realtor above stated, as long as you don't mind living in nice but modest houses with small yards. If you're looking for a showstopper, wanting to make an impression, or if you view your home more as an extension of your personal style than as a decent shelter for your family, prepare to pay.

I live in a house that is 3650 square feet, a rancher built in 1972--no vaulted ceilings, no entry foyer, no glamorous master suite (with our queen bed and dressers in there we have just enough space to comfortably dress; the bathroom is too small for both of us to use the mirror at once; there is no walk-in closet). It now has five bedrooms and an office, but when we bought it in 2001, it was mostly unfinished, with two nonconforming bedrooms at the far end of the basement (a long, LONG nighttime walk to the upstairs bathroom!) and three upstairs. It's on nearly a half acre. We bought it for $142.9K and it has since been valued at $189-215K. We have four children; I haven't worked outside the home any measurable amount since the eldest was born. My husband makes around $60K annually (he retired early from Guard shortly after we moved). We don't have our children in expensive after-school activities; I cook from scratch and shop sales; we don't own a lot of fancy toys and our cars are used. We finished the basement ourselves, hiring no one. We take simple, inexpensive vacations; we don't have season passes to the local amusement park and we've been to the local indoor amusement place exactly once as a family (because we got in half price). Our kids ride used bikes (there's a guy on Hanley who sells them cheap). The kids as well as my husband all carry lunches to work and school. We focus on free entertainment--plentiful in summer here! There's a lot that most contemporary families consider absolute necessities that we just never felt the need for.

For us, it's no big deal; but if someone came to our lifestyle after having had their kids in ballet and piano and martial arts, with 4-wheelers and a nice boat and lots of electronics, accustomed to weekend excursions and summer resort stays or Disney vacations or the like, and eating out more than they ate in, they'd wonder how on earth we managed to pay for this house. :^ )

[calicocutie]

Home prices and taxes are getting outrageous. We would like a smaller home-1200 to 1500- sq ft and an acre or two. I don't think anything like that is available for a decent price. We can't afford 200k. We can't even afford 150k. What to do!? We could stay where we are but things are changing here too fast and we want a more leisurely lifestyle. Plus being near our kids is important and they're in 29 Palms CA. We know we don't want to go there!! Just my 2 cents worth which at todays prices probably makes it less than 1 cent.

[pacalady]

Ghost:
I live in Post Falls, in between Coeur d' Alene ID and Spokane WA, and yes, the housing market is unbelievable. However, if you go further North about 50 miles; or south about an equal distance you can still find homes reasonably priced in pretty nice areas. Here is PF, new homes on small lots with basically no yard are in the $150k range; Depending on what you are looking for for entertainment, dining, shopping etc., you might try Lewiston, Moscow (to the south) or Bonners Ferry to the North. And yes, it is absolutely gorgeous here!!

[CosmicWizard]

I wonder where the government gets their ridiculously low and inaccurrate numbers for inflation. In my world it seems like prices for just about everything are increasing much faster than wages. Has anyone else had a similar thought?

regads...Franco

[Luckyfella]

my problem with post falls is how in gods name do people make a living ? and how in gods precious name do you sell anything here ? ive tried unsuccefully to make a run at building and selling one home a yaer just to run my own little heaven of a gig small bussiness to only have the damn thing sit 2 years with no one interested as if the damn thing has the friggin plague further more to i tried unsuccefully to sell my own personal home in the supposebly best area of post falls riverside harbor only to have it treated like it to had the plague and both are well under appraised value , lastly out of desperation i tried to sell a mint 1996 z28 camaro convertible for dirt cheap only to have it also treated like it contained some type of plague i feel north idahos way toooo conservative and it makes living here miserable, im from montana where i sold alot of homes land cars and nevr had oneproblem, further more people need to quit being so god damn greedy and selfish it seems in idaho no one looks at anything you have for sale even tho they love it unless their getting an out right steal and i feel its being selfish and greedy i feel in any transaction both parties should walk away feeling whole and good about their decision but god forbid that ever happens in north idaho land of the greedy greedy conservatives what we need it more liberals or left leaners in this area then things will thrive for everyone not just the ultra rich with gold spoons in their mounths from when they were born , if i could sell one friggin home a year id be ok but idaho cant produce and im growing very very depressed as i have 3 kids im raising single handily and beleive me these homes are very very nice homes on hugh lots